The technique invented by IonQ and FCAT leverages copulas, a method
often used in statistical models to describe relationships between
large numbers of variables. For instance, large financial
institutions use copulas to understand relationships between stock
prices (if the price of X is within a particular range, then the
price of Y tends to go up). By using quantum computers to implement
copulas, IonQ and FCAT demonstrated the ability to construct
complex models beyond the capability of classical computers.
“This research, performed on IonQ hardware, shows quite clearly
that leveraging quantum computing can lead to superior financial
modeling results. The application of quantum machine learning to
other industries, ranging from climate science to geopolitics,
means that a quantum-shaped future is just around the corner,” said
Peter Chapman, CEO and President of IonQ. “Fidelity has long been a
leader in understanding how new technologies will shape markets and
industries, and we’re excited to work with them in this space.”
The copula method underlying FCAT and IonQ’s work can potentially
be applied to any industry dealing with complex systems that
involve several correlated variables. In the near future, it is
expected that quantum machine learning may be applied to climate
research, medical imaging, and recommendation systems. In finance,
the first quantum machine learning methods using copulas are likely
to be applied to risk management and portfolio optimization.
“At FCAT, we track new and emerging technologies and trends to help
Fidelity meet the changing needs of our customers and associates,”
said Adam Schouela, Head of Emerging Technology, FCAT. “Classical
computing enabled breakthroughs in the financial services space,
and we expect quantum computing’s impact to be no less significant.
We’re thrilled that our latest research with IonQ can help
demonstrate quantum’s potential in this space.”
The news continues a year of considerable momentum for IonQ. Its
computers were recently added to Google Cloud Marketplace, making
IonQ the only supplier whose quantum computers are available via
all of the major cloud providers. In addition, IonQ’s co-founders joined the White House’s
National Quantum Initiative Advisory Committee to accelerate the
development of the national strategic technological imperative.
IonQ, Inc. is the leader in quantum computing, with a proven track
record of innovation and deployment. IonQ’s 32-qubit quantum computer is the
world’s most powerful trapped-ion quantum computer, and IonQ
has defined what it believes is the best path forward to scale.
IonQ is the only company with its quantum systems available through
the cloud on Amazon Braket, Microsoft Azure, and Google Cloud, as
well as through direct API access. IonQ was founded in 2015 by
Christopher Monroe and Jungsang Kim based on 25 years of pioneering
research. To learn more, visit http://www.IonQ.com.